Multiple choice

A shop keeper marks his goods $20$% above the cost price, but allows $30$% discount for cash. Find his net loss.

  1. $8$%
  2. $10$%
  3. $16$%
  4. $20$%
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Let CP = 100. Marked price = 120. Discount of 30% on 120 is 36. Selling price = 120 - 36 = 84. Loss = 100 - 84 = 16%.

AI explanation

Let the cost price be Rs. 100, making the marked price Rs. 120 after the 20 percent increase. The 30 percent discount is calculated on the marked price, resulting in a discount of Rs. 36. Therefore, the final selling price is 120 minus 36, which equals Rs. 84. Comparing this to the original cost price of Rs. 100, the net loss is 100 minus 84, resulting in a 16 percent loss.

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